WadzPay Worldwide Pte. Ltd. ("WadzPay"), a leading innovator in the blockchain technology and financial services company, today announced that it has secured a capital commitment of SGD $50 million in the form of a Share Subscription Facility (SSF) from GEM Global Yield LLC SCS ("GEM"). The SSF will accelerate the company's growth strategy via acquisitions, partnerships and organic initiatives.
The agreement establishes a Share Subscription Facility granting WadzPay the option to call upon GEM to subscribe for Ordinary Shares up to a total value of SGD 50 million (approximately USD 36.7 million) upon a successful public listing for a thirty-six-month period. This binding commitment underscores GEM's confidence in WadzPay's potential to positively disrupt the financial services landscape.
"This partnership with GEM is a powerful validation of the transformative impact WadzPay is making in the financial services and blockchain space. Securing this substantial commitment early in our journey fuels our mission and equips us with the resources to accelerate innovation and scale rapidly. We are thrilled to have GEM's support as we pursue our public listing and expand our global reach," said Anish Jain, Founder & CEO of WadzPay.
GEM's backing signifies a pivotal moment for WadzPay, demonstrating strong endorsement of its vision and direction. This strategic investment from GEM marks a significant milestone for WadzPay, solidifying its position as a leading player in the global financial services and blockchain industry. |
